BUSINESS

Progress in talks between Nicosia and the troika

Talks between the government of Cyprus in Nicosia and representatives of its international creditors on the financial sector concluded on Friday and negotiations on the fiscal front got under way with the aim of reaching a conclusion over the weekend.

Sources say that the disbursement of the next bailout tranche, amounting to 186 million euros, will depend on three factors: the voting on the regulations for the Fiscal Council, the voting on the law for the composition of the Streamlining Authority, and the submission of a report to the Organization for Economic Cooperation and Development (OECD) by the end of the month regarding the action taken over the last six months to combat money laundering.

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